Andel and Copenhagen Infrastructure Partners to form strategic partnership

Andel and CIP will form a consortium to cooperate on two tenders for offshore wind farms in Denmark: Hesselø Offshore Wind Farm in Kattegat north of Zealand and Kriegers Flak II in the Baltic Sea

COPENHAGEN, Denmark, Sept. 15, 2023 (GLOBE NEWSWIRE) -- For Denmark to reach the national climate ambitions and lower the share of fossil fuels in the national energy supply, the green transition needs to be accelerated. This will only happen through an acceleration of renewable energy and only by speeding up the development and construction of offshore wind farms.

Earlier this year, a political agreement laid the foundation for the largest Danish build-out of offshore wind historically at 9GW. The partnership formed by Andel and CIP will play a central part in the build-out and delivering on the national ambitions with two of the country’s most notable companies working together on offshore wind farms placed attractively close to the Danish island of Zealand. The two parks will have a capacity to supply power to the equivalent of two million homes.

“The international climate and energy crisis is a threat to our energy supply, and it is of great importance that we support the build-out of renewable energy. We are very happy and proud to form this strong strategic partnership with CIP, a company with expertise within development, construction, and operation of offshore wind farms. In our investment program up to 2035, DKK 90 billion will be invested into growth and the green transition. Now, together with CIP we are ready, and it is our goal to win the tenders for Hesselø and Kriegers Flak II,” said Jesper Hjulmand, CEO of Andel.

The continuous build-out of offshore wind in Denmark serves not only a purpose of transitioning the power supply but will also be central to Denmark in keeping the global position as a global leader in renewables, while growing the economy, and creating jobs both during construction and operation.

“Hesselø and Kriegers Flak II are very important pieces of the puzzle that is the transition of the Danish energy system. It is of utmost importance that we keep the transition moving, and at Andel and CIP we are ready to do our part of the job. Andel has strong competences in operating electricity supply and trading energy in large volumes both financially and to consumers, so Andel is a partner that complements our competences very well. Our common ambition is to be an important driver in the realisation of the potential for even larger amounts of renewable energy generation in Danish waters,” said Jakob Baruël Poulsen, managing partner at CIP.

The Danish authorities have appointed attractive areas designated for construction of offshore wind farms in the Northsea, Kattegat, and the Baltic Sea through a screening process followed by pre-investigations of the sites. Hesselø Offshore Wind Farm is planned for completion by 2029 and Kriegers Flak II by 2030. The two parks will have a total minimum installed capacity of 1.8 GW.

About Andel
Andel is Denmark’s leading energy and fibre-optic group. We are also a cooperative society and a group with subsidiaries. The purpose of Andel is to create welfare and growth regionally and in society in general by providing vital infrastructure and future-proof energy solutions.

Andel has 2.8 million customers and is owned by 400.000 coop members. The company’s vision is taking responsibility for building a future for everyone and playing a leading role in the green transition. This will happen through an ambitious investment strategy with DKK 90 billion invested in electrical charging, transmission and customer-focused energy solutions. Andel has 2,300 employees. Annual revenue in 2022 was EUR ~50 billion. For more information, please visit www.andel.dk

About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focuses on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.

CIP manages ten funds and has to date raised approximately EUR 25 billion for investments in energy and associated infrastructure from more than 150 international institutional investors. CIP has approximately 400 employees and 12 offices around the world. For more information, visit www.cip.com

For further information, please contact:

Andel:
Morten Kidal, Head of Media Relations
Phone: +45 21703799
Email: mkl@andel.dk

Copenhagen Infrastructure Partners:
Oliver Routhe Skov, Head of Media Relations
Phone: +45 30541227
Email: orsk@cip.com

Thomas Kønig, Partner – Investor Relations
Phone: +45 7070 5151
Email: tkon@cip.com

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